The minimum components of a condensed report

Learning objectives

• Identify the five minimum components of a condensed interim financial report: statement of financial position, statement of comprehensive income, statement of changes in equity, statement of cash flows and selected explanatory notes.L1, L2
• Determine, from the content of a given report, whether a minimum component is missing.L1, L2

Normative references

• IAS 34 §8An interim financial report includes, at a minimum, five components: a condensed statement of financial position, a condensed statement or statements of performance (profit or loss and other comprehensive income; "statement(s) of financial performance" in the wording amended by IFRS 18), a condensed statement of changes in equity, a condensed statement of cash flows and selected explanatory notes.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

3 questions

• The minimum content of a condensed interim report comprises a condensed statement of financial position, a condensed statement of comprehensive income, a condensed statement of changes in equity and a condensed statement of cash flows, together with selected explanatory notes.L1
• Which of the following form part of the minimum content of a condensed interim report under IAS 34? More than one answer is possible.L1
• Ostelle SA's half-year report contains a condensed statement of financial position, a condensed statement of comprehensive income and selected notes. Management considers the statement of changes in equity and the statement of cash flows unnecessary, because equity and cash have not changed significantly (case data). What is the error?L2